Purchase, NY, May 01, 2009 -
MasterCard Incorporated (NYSE:MA) today announced financial results
for the first quarter 2009. The company reported net income of $367
million, or $2.80 per diluted share.

Net revenue for the first quarter of 2009 was $1.2 billion, a 2.2%
decline versus the same period in 2008. The decline in net revenue
growth was primarily due to the unfavorable impact of foreign
currency exchange and higher rebates and incentives, partially offset
by pricing, increased processed transactions and increases in other
payment-related services. On a constant currency basis, net revenue
increased 1.8% compared to the same period in 2008.

MasterCard’s gross dollar volume was up 0.3%, on a local currency
basis, versus the first quarter of 2008, to $550 billion. Worldwide
purchase volume during the quarter was also up 0.3% on a local
currency basis versus the first quarter of 2008, to $411 billion.
The number of processed transactions increased 5.8% compared to the
same period in 2008, to 5.1 billion. As of March 31, 2009, the
company’s financial-institution customers had issued 967 million
MasterCard cards, an increase of 4.0% over the cards issued at March
31, 2008.

“As we navigate through these challenging economic times, we’ve taken
important steps to better align our operations with the current
environment,” said Robert W. Selander, MasterCard president and chief
executive officer. “We've taken considerable cost-reduction actions
allowing us to deliver a strong operating margin of 48.6%, while
keeping focused to ensure MasterCard is well positioned for long-term
growth.

“As we move forward,” Selander added, “we're maintaining a flexible
and adaptable approach to ensure we continue to deliver value to our
customers. Whether through the innovative products and solutions we
offer, or our unmatched advisory and information services, we're
making payments easier and more efficient for everyone involved.”

Total operating expenses decreased 10.8%, to $595 million, during the
first quarter of 2009 compared to the same period in 2008. Currency
fluctuations contributed 2.9 percentage points to the rate of
decline. The decrease in total operating expenses was driven by:

A 3.0% decrease in general and administrative expenses, primarily
resulting from continued initiatives to reduce travel expenses,
professional fees and personnel costs, which included severance costs
of $19 million in the quarter. Currency fluctuations representing
approximately 2.6 percentage points contributed to the rate of
decline; and

A 35.4% decrease in advertising and marketing expenses versus the
year-ago period related to cost containment initiatives, and a
favorable foreign currency impact of 3.0 percentage points.

The operating margin was 48.6% for the first quarter of 2009, up 5.0
percentage points over the year-ago period.

Total other expense was $11 million in the first quarter of 2009
versus total other income of $173 million in the first quarter of
2008. The decrease was primarily due to gains realized in the first
quarter of 2008 from the sale of a portion of the company’s
investment in Redecard S.A. Interest expense versus the year-ago
period increased $20 million, primarily due to the interest accretion
associated with a litigation settlement that occurred in the second
quarter of 2008.

MasterCard's effective tax rate was 33.2% in the first quarter of
2009, versus 35.1% in the comparable period in 2008. The decrease
was primarily due to an adjustment of deferred taxes.

There were no special items for the first quarter of 2009. The
special item for the first quarter of 2008 related to a $75 million
pre-tax gain from the termination of a customer business agreement.
The company's total other income, net income and earnings per share,
excluding special items, are non-GAAP financial measures that are
reconciled to their most directly comparable GAAP measures in the
accompanying GAAP Reconciliations.

The dial-in information for this call is 866-711-8198 (within the
U.S.) and 617-597-5327 (outside the U.S.) and the passcode is
20007083. A replay of the call will be available for one week
thereafter. The replay can be accessed by dialing 888-286-8010
(within the U.S.) and 617-801-6888 (outside the U.S.) and using
passcode 64388164.

The live call and the replay, along with supporting materials, can
also be accessed through the Investor Relations section of the
company’s website at www.mastercard.com.

About MasterCard Incorporated
MasterCard Incorporated advances global commerce by providing a
critical economic link among financial institutions, businesses,
cardholders and merchants worldwide. As a franchisor, processor and
advisor, MasterCard develops and markets payment solutions, processes
approximately 21 billion transactions each year, and provides
industry-leading analysis and consulting services to
financial-institution customers and merchants. Powered by the
MasterCard Worldwide Network and through its family of brands,
including MasterCard®, Maestro® and Cirrus®, MasterCard serves
consumers and businesses in more than 210 countries and territories.
For more information go to www.mastercard.com.

Forward-Looking Statements
Statements in this press release which are not historical facts,
including statements about MasterCard’s plans, strategies, beliefs
and expectations, are forward-looking and subject to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995.
Forward-looking statements speak only as of the date they are made.
Accordingly, except for the company’s ongoing obligations under the
U.S. federal securities laws, the company does not intend to update
or otherwise revise the forward-looking information to reflect actual
results of operations, changes in financial condition, changes in
estimates, expectations or assumptions, changes in general economic
or industry conditions or other circumstances arising and/or existing
since the preparation of this press release or to reflect the
occurrence of any unanticipated events. Such forward-looking
statements include, without limitation:

The company’s ability to be well positioned for long-term growth;
and

The company’s ability to continue making payments easier and more
efficient for all involved through the offering of innovative
products and solutions, and advisory and information services

Actual results may differ materially from such forward-looking
statements for a number of reasons, including those set forth in the
company’s filings with the Securities and Exchange Commission (SEC),
including the company’s Annual Report on Form 10-K for the year ended
December 31, 2008, the company’s Quarterly Reports on Form 10-Q and
Current Reports on Form 8-K that have been filed with the SEC during
2008 and 2009, as well as reasons including difficulties, delays or
the inability of the company to achieve its strategic initiatives set
forth above. Factors other than those listed above could also cause
the company’s results to differ materially from expected results.